Last week, the Wall Street Journal thrust Tesla (TSLA) shares into a frenzy with a report that its board of directors had opened a search to replace Elon Musk as CEO. Company leadership, including current Chair Robyn Denholm, promptly denied the allegations.
Investors will note that the reported CEO search comes as the electric vehicle manufacturer faces multiple challenges in 2025, ranging from slowing consumer demand to narrowing profit margins. In Q1 2025, Tesla stock reported a 71% drop in earnings, while the stock is down almost 45% from all-time highs.
